According to recent data collected by the South Korean government, the accumulated commission income of the country's 30 cryptocurrency exchanges last year was 87.5 times that of the previous year. The commission revenues of South Korean cryptocurrency exchanges collectively increased approximately 87.5 times last year compared to the previous year, local media reported. South Korea has four major cryptocurrency exchanges: Upbit, Bithumb, Coinone, and Korbit. The Korean regulators are currently working on how to tax cryptocurrency exchanges as well as crypto trading.